Los Angeles Times

Market rebounds but concerns remain that tax cuts might overheat US economy

WASHINGTON - President Donald Trump has boasted that the Republican tax cuts would add rocket fuel to the economy.

But rockets can accidentally explode.

Some analysts believe the extra stimulus of the tax cuts, which will boost wage growth and government borrowing in an already strong economy, helped ignite the recent stock market volatility that continued Tuesday with another wild session on Wall Street.

One day after a record point drop in the Dow Jones industrial average, the index of top stocks went on a roller-coaster ride that ultimately erased nearly half of Monday's losses after bargain-hunters swooped in.

The gyrations had Treasury Secretary Steven T. Mnuchin warily checking his iPhone even as he tried to assure lawmakers there

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